Adjust the image offset and image crop for multiple strips
I found a solution, there is a script called Extra Sequencer Actions

http://wiki.blender.org/index.php/Extensions:2.6/Py/Scripts/Sequencer/Extra_Sequencer_Actions

http://blenderartists.org/forum/showthread.php?248129-Extra-Sequencer-Actions

Initially I came across it they were mainly talking about batch editing proxies. But after installation I found it had and many sub menus under the Strip menu. 

It behaves as desired.